Hi,
Have read the terms in detail, please dont confuse redemption with conversion and the rights of the bondholders and the company. All 4 have different terms and variables.
Bottom line is a $50M risk by bond holders with a floor (face value redemption price) of $1 and unlimited upside. The balance of investment is subject to conditions that will reduce this risk further.
Overall I think a very reasonable deal and in real terms they are only risking the difference between $1 and $1.25 i.e. 25c per share and LYC gets a floor on its share price and capital to see it through the Malaysia debacle.
in simple terms..., page-27
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Last
$7.61 |
Change
-0.100(1.30%) |
Mkt cap ! $7.113B | |||
| Open | High | Low | Value | Volume |
| $7.65 | $7.65 | $7.49 | $13.50M | 1.778M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 10000 | $7.57 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.61 | 6808 | 1 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| LYC (ASX) Chart |